Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Wed, Nov 24, 2010 at 9:45 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Former Telecom Minister A Raja S Share Investments Shot Up By 170 Percent
• Parliamentary Committee Recommends One Rank One Pension
• Age-Limit For Senior Citizens Facilities
• CAG Empanelment Of Chartered Accountant Firms For The Year 2011-2012 For Audit Of PSU
• Govt May Notify New Accounting Norms For IFRS By The End Of This Year
• ICAI- Result Of Online CPT Examination Held In October 2010
• No Role Of PM In Blocking Subramaniam Swamy S Complaint In The 2G Spectrum Case- SC
• SC Declines To Lift Delhi High Court Stay On Recovery Of Service Tax From A Company For Renting Immovable Property
• SEBI Wants Mutual Funds To Ensure Quality Of Debt Papers
• 2G Spectrum - CBI Collects Documents From Corporate Affairs Ministry
• Labour Ministry Requests To Keep ESI EPF Schemes Out Of Service Tax Ambit
• Vodafone In Talks With Foreign Banks To Provide Counter Guarantee To Nationalised Banks In India
• Complaints Received By The Serious Fraud Investigation Office And The Registrar Of Companies
• Formation Of Financial Stability Development Council FSDC
• Regulation Of Interest Rates Charged By MFIs
• Indian Construction And Growth
• Though Assessee Shown As Owner Of Demat Shares In Depository S Books If He Shows To Be Mere Pledgee There Is No Benefit U S 2 24 Iv
• Foreign Artistes Are Chargeable To Tax In India But Their Agents Are Not In The Absence Of PE- ITAT Mumbai

Former Telecom Minister A Raja S Share Investments Shot Up By 170 Percent Posted: 24 Nov 2010 12:44 AM PST Former Telecom Minister A Raja s investment in shares and fixed deposits have increased by nearly 170 per cent from Rs 8 52 lakh to a little over Rs 23 lakh during one year annual property returns of the Ministers provided by Prime [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Parliamentary Committee Recommends One Rank One Pension Posted: 24 Nov 2010 12:39 AM PST The Parliamentary Standing committee on Defence has urged the government to reconsider the demand of One Rank One Pension for the ex-servicemen The Parliamentary Standing Committee on Defence 15th LOK SABHA on 1st and 7th Reports [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Age-Limit For Senior Citizens Facilities Posted: 24 Nov 2010 12:37 AM PST The Maintenance and Welfare of Parents and Senior Citizens Act 2007 defines Senior Citizen as a person who has attained the age of 60 years or above The Act provides for claim for maintenance allowance geriatric and health [[ This is a content summary only. Visit www.taxguru.in for full article ]]

CAG Empanelment Of Chartered Accountant Firms For The Year 2011-2012 For Audit Of PSU Posted: 24 Nov 2010 12:34 AM PST OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 10 BAHADUR SHAH ZAFAR MARG NEW DELHI 110124 Empanelment of Chartered Accountant firms for the year 2011-2012 Applications are invited online from the firms of Charter [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Govt May Notify New Accounting Norms For IFRS By The End Of This Year Posted: 24 Nov 2010 12:12 AM PST The government on Tuesday said it will notify the new accounting norms in sync with international practice IFRS for India Inc by the end of this year and ensured that the April 2011 deadline will not be missed nbsp Speaking at a [[ This is a content summary only. Visit www.taxguru.in for full article ]]

ICAI- Result Of Online CPT Examination Held In October 2010 Posted: 24 Nov 2010 12:04 AM PST The result of online CPT examination held in the month of October 2010 is likely to be declared on 30th November 2010 The result can be viewed at www icai org [[ This is a content summary only. Visit www.taxguru.in for full article ]]

No Role Of PM In Blocking Subramaniam Swamy S Complaint In The 2G Spectrum Case- SC Posted: 24 Nov 2010 12:03 AM PST In a major relief for Prime Minister Manmohan Singh the Supreme Court on Tuesday observed that there has been no intention on the PM s part to block Subramaniam Swamy s complaint in the 2G spectrum case The Supreme Court was hearin [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SC Declines To Lift Delhi High Court Stay On Recovery Of Service Tax From A Company For Renting Immovable Property Posted: 24 Nov 2010 12:02 AM PST The central government is keen to implement its service tax on commercial space rentals rule but the Supreme Court SC has issued a reprieve The SC declined to lift a Delhi high court stay on recovery of service tax from a company [[ This is a content summary only. Visit www.taxguru.in for full article ]]

SEBI Wants Mutual Funds To Ensure Quality Of Debt Papers Posted: 23 Nov 2010 03:20 PM PST Concerned over the quality of papers that mutual fund are investing in market regulator SEBI has asked six of them to refile their offer documents for capital protection scheme nbsp In a capital protection scheme fund houses usua [[ This is a content summary only. Visit www.taxguru.in for full article ]]

2G Spectrum - CBI Collects Documents From Corporate Affairs Ministry Posted: 23 Nov 2010 03:11 PM PST The CBI has collected documents from the ministry of corporate affairs about companies which were granted spectrum allegedly in an arbitrary fashion between September 2007 and January 2008 According to CBI sources the MCA documents d [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Labour Ministry Requests To Keep ESI EPF Schemes Out Of Service Tax Ambit Posted: 23 Nov 2010 03:08 PM PST The Labour and Employment Ministry has requested the Finance Ministry to keep Employees State Insurance ESI and Employees Provident Fund EPF schemes out of the ambit of service tax as they are social security schemes If th [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Vodafone In Talks With Foreign Banks To Provide Counter Guarantee To Nationalised Banks In India Posted: 23 Nov 2010 03:06 PM PST Mobile service operator Vodafone is in talks with foreign banks to provide counter guarantee to nationalised banks in India for a sum of Rs 8 500 crore This follows an order from the Supreme Court last week asking the telco to furnish [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Complaints Received By The Serious Fraud Investigation Office And The Registrar Of Companies Posted: 23 Nov 2010 03:02 PM PST The Minister for Corporate Affairs has informed the Lok Sabha that the Registrars of Companies RoC received complaints against various companies from stakeholders such as shareholders creditors financiers other Government D [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Formation Of Financial Stability Development Council FSDC Posted: 23 Nov 2010 02:59 PM PST The Financial Stability Development Council FSDC is expected to come into force in the month of December 2010 The Ministry of Finance has consulted all the financial sector regulators on the formation of the Council The ob [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Regulation Of Interest Rates Charged By MFIs Posted: 23 Nov 2010 02:56 PM PST The Small Industrial Development Bank of India SIDBI has reported that SKS Microfinance Ltd SKS the only Micro Finance Institution MFI in India to be listed on the Bombay Stock Exchange National Stock Exchange BSE NSE h [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Indian Construction And Growth Posted: 24 Nov 2010 12:09 AM PST The demand of construction is increasing with a speed equivalent to the speed of Delhi metro traveling each day Road Construction and infrastructure construction is wheel of Indian economic growth from the time of 2004 when it beca [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Though Assessee Shown As Owner Of Demat Shares In Depository S Books If He Shows To Be Mere Pledgee There Is No Benefit U S 2 24 Iv Posted: 24 Nov 2010 01:10 AM PST As a pawnee pledgee the assessee does not have absolute rights over the shares He could sell the security in a manner contemplated by law In case the proceeds were greater than the amount due to him he had to pay the surplus to the [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Foreign Artistes Are Chargeable To Tax In India But Their Agents Are Not In The Absence Of PE- ITAT Mumbai Posted: 24 Nov 2010 12:51 AM PST Commission paid to agents for services rendered outside India is not chargeable to tax in India and there is no obligation to deduct tax u s 195 As Agent was not a performer his income was not covered under Article 18 of the DTAA [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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